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Officials predicting 'massive' Indy 500 impact

Posted at 10:37 PM, May 30, 2016
and last updated 2016-05-30 22:37:20-04

Indianapolis officials are predicting a bumper year for the city thanks to the sold-out Indianapolis 500.

For Visit Indy, the event was more than a one-time infusion of cash into the economy.

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Vice President of Marketing Chris Hahl says the desire is to show off the city to executives in high-level suites at IMS who have the buying power to come back and bring a convention or relocate business to Indianapolis.

A study from 2000 pegged the economic impact of the race at $336 million.

But Gahl says there's reason to believe this year's race will far surpass that number.

One race fan from California estimated he and a friend spent as much as $1,800 over the weekend on everything from hotel rooms to rental cars.

"An excellent time, couldn't have been any better," Kyle Bruss said. "It's been a lifelong dream that came true."

All of the city's 33,000 hotel rooms were sold out for the weekend, with most requiring a three-night stay.

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